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17.06.202212:11 Forex Analysis & Reviews: Trading tips for EUR/USD

Exchange Rates 17.06.2022 analysis

EUR/USD rallied on Thursday, hitting the 50% retracement level.

This situation opens the opportunity for sellers to work for a price decrease.

Exchange Rates 17.06.2022 analysis

So, given that there is a three-wave (ABC) pattern, where wave A represents the selling pressure in the market, traders can open short positions from current prices up to the 50% retracement level. Set stop loss at 1.07 and take profit on the breakdown of 1.03300.

This strategy is based on the Price Action and Stop Hunting methods.

Good luck and have a nice day!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2022
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